Global segment ranking · Industrial, deeptech & space › Space

The world’s most valuable launcher startups

Edition 0 (beta)·Published 8 Oct 2026·Next scheduled update 6 Mar 2027

Companies that put payloads into space with their own vehicle: small, medium and reusable orbital rockets, suborbital rockets and spaceplanes, air and kinetic launch, and makers of engines built for launchers. Ranked worldwide by AI-estimated valuation, with listed launch pure players shown in grey at their market value for reference. The market sets the value; our AI estimates it.

Twice a year Claude · multi-AI consensus from 1 Dec 2026· Method· Order never changed by a human

Declare an interest in Launchers

Key metrics for this segment: key milestone. Figures as published by each company or the press, dated, not recalculated. The AIs weigh them alongside funding history and comparables.

Not in this segment. Listed, so not ranked: Avio, Innospace and Virgin Galactic (shown in grey), and Rocket Lab and Firefly Aerospace, listed launchers whose revenue now comes mostly from spacecraft. SpaceX, listed since June 2026, earns most of its revenue from Starlink. Created by a group: MaiaSpace (ArianeGroup), Rocket Factory Augsburg (OHB), Space One (Canon Electronics, IHI and partners). Owned by its founder without outside investors: Blue Origin. Closed or in insolvency: Orbex (administration, Feb 2026), Dark. In other segments: in-space transport and capsules (Impulse Space, The Exploration Company, D-Orbit, Exotrail), defence rocket motors (Ursa Major, X-Bow), hypersonic test vehicles (Long Wall, formerly ABL; Stratolaunch), satellites (SpinLaunch, now building a constellation) and spaceports. Chinese companies (LandSpace, Galactic Energy, iSpace…) are never ranked. A company appears in one segment only. Method

The segment at a glance

26companies ranked

3companies on the radar

15countries in the ranking

6listed benchmarks

Sources: Company announcements, Bloomberg, Reuters, SpaceNews, Payload, European Spaceflight, The Next Web, TechCrunch, Satellite Today, Entrackr, The Bridge, Wowtale, company filings and market data for listed companies. Intention counters will be shown above a threshold of amount and number of Backers.

Rankings by region

Filter the ranking and the Radar. Ranks stay worldwide. Regional pages: Asia · Europe · Middle East & North Africa · North America · Oceania.

Global ranking · Launchers

Top 26 Radar Challengers

First edition: no movements yet.

Listed benchmark · 8 Oct 20262.6xmarket cap / revenue of Avio, the only listed launch pure player with mature revenueUSD 43bnmarket cap of Rocket Lab, the largest listed launcher outside SpaceX (Oct 2026; launch about a third of its revenue)USD 2.2tnmarket cap of SpaceX, listed in June 2026 (launch about 22% of 2025 revenue)

Key metrics in this segment: successful orbital flights, launch cadence, order backlog and cost per kilogram to orbit. Listed companies appear in grey at their market value on the ranking date, for reference: they are never ranked and no intention is possible on them. Facts from company filings and market data; Uback gives no opinion on listed companies.

World · 26 ranked companies

#	Company	Last round · Key metrics	Estimated valuation (AI) · range	Confidence	Back
1	Stoke SpaceUnited States · North America	Series E · USD 1bn · Sep 2026Fully reusable Nova rocket; first orbital launch targeted early 2027 · Sep 2026	Last known equity round: Series E · USD 1bn · Sep 2026 (Point72 Ventures, Spark Capital; General Innovation, Glade Brook Capital, Woven Capital, Y Combinator) No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
2	Isar AerospaceGermany · Europe	Series D · USD 312M · Jun 2026Spectrum reached orbit on its 2nd flight, 5 Sep 2026 · Sep 2026	Last known equity round: Series D · USD 312M · Jun 2026 (Island Green Capital, Molten Ventures; HV Capital, Lakestar, UVC Partners, KfW Capital); EUR 270M Published valuation: more than EUR 2bn (reported) (Jun 2026) Confidence index: HighMethod	Solid sources	Back
3	PLD SpaceSpain · Europe	Series C · USD 335M · Sep 2026ESA launcher contract of EUR 158.9M; MIURA 5 first launch planned · Aug 2026	Last known equity round: Series C · USD 335M · Sep 2026 (Mitsubishi Electric; COFIDES, Endeavor Catalyst, Spain Oman Private Equity Fund); EUR 288M including the Sep 2026 extension No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
—	AvioItaly · Listed · Euronext Milan · AVIO	Revenue EUR 542M in 2025Order backlog EUR 2,048M at 30 Jun 2026	about USD 1.6bnMarket cap · Sep 2026 · 2.6x revenue	Listed company · not ranked
4	Relativity SpaceUnited States · North America · Controlled by Eric Schmidt	Series E · USD 650M · Jun 2021Terran R order backlog about USD 2.9bn; first launch targeted late 2026 · Nov 2025	Last known equity round: Series E · USD 650M · Jun 2021 (Fidelity; Baillie Gifford, BlackRock, Coatue, Tiger Global); Eric Schmidt's 2025 investment, which gave him control, undisclosed No confirmed published valuation Confidence index: LowMethod	Weak sources	Back
5	Skyroot AerospaceIndia · Asia	Series C · USD 50M · May 2026Vikram-1 reached orbit on its maiden flight, 18 Jul 2026 · Jul 2026	Last known equity round: Series C · USD 50M · May 2026 (GIC, Sherpalo Ventures; BlackRock-managed funds, Arkam Ventures, Playbook Partners); USD 60M headline, about USD 10M of it debt, not counted Published valuation: USD 1.1bn (reported) (May 2026) Confidence index: HighMethod	Solid sources	Back
6	Gilmour Space TechnologiesAustralia · Oceania	Series E · USD 145M · Jan 2026Eris first test flight failed after 14 s (Jul 2025); second flight late 2026 · Jul 2025	Last known equity round: Series E · USD 145M · Jan 2026 (National Reconstruction Fund Corporation, Hostplus; Future Fund, HESTA, Blackbird, Main Sequence, QIC); AUD 217M Published valuation: more than AUD 1bn (reported) (Jan 2026) Confidence index: HighMethod	Solid sources	Back
7	Interstellar TechnologiesJapan · Asia	Series F · USD 112M · Jan 2026ZERO rocket: 8 launch contracts signed before first flight · Jan 2026	Last known equity round: Series F · USD 112M · Jan 2026 (Woven by Toyota; SBI Group, Nomura Real Estate, B Dash Ventures, SMBC Edge); JPY 20.1bn including some debt, not counted No confirmed published valuation Confidence index: MediumMethod	Partial sources	Back
8	Agnikul CosmosIndia · Asia	Series B extension · USD 17M · Nov 2025Suborbital Agnibaan flight May 2024; orbital flight pending · Feb 2026	Last known equity round: Series B extension · USD 17M · Nov 2025 (Advenza Global, HDFC Bank, Artha Select Fund, 100X.VC); INR 150 crore Published valuation: more than USD 500M (reported) (Nov 2025) Confidence index: HighMethod	Solid sources	Back
—	Virgin GalacticUnited States · Listed · NYSE · SPCE	Revenue about USD 1M over the last 12 monthsFlights paused since mid-2024, Delta ships in build	USD 460MMarket cap · Oct 2026	Listed company · not ranked
9	Dawn AerospaceNew Zealand · Oceania	Series B · USD 25M · Aug 2026Aurora rocket spaceplane has flown supersonic · Aug 2026	Last known equity round: Series B · USD 25M · Aug 2026 (Balerion Space Ventures; ANA Future Frontier Fund, Shasta Ventures, Icehouse Ventures) Published valuation: USD 195M (reported) (Aug 2026) Confidence index: HighMethod	Solid sources	Back
10	LatitudeFrance · Europe	Series B · USD 30M · Jan 2024Zephyr first flight from Kourou targeted; CNES first customer · Jan 2026	Last known equity round: Series B · USD 30M · Jan 2024 (Crédit Mutuel Innovation, Expansion, UI Investissement, Bpifrance; Kima Ventures); EUR 27.5M No confirmed published valuation Confidence index: MediumMethod	Partial sources	Back
—	InnospaceSouth Korea · Listed · KOSDAQ · 462350	First orbital attempt HANBIT-Nano failed, Dec 2025 (Alcântara, Brazil)Revenue about KRW 5.9bn over the last 12 months	about USD 150MMarket cap · Sep 2026	Listed company · not ranked
11	Radian AerospaceUnited States · North America	Seed · USD 27.5M · Apr 2022Single-stage-to-orbit spaceplane in development; not flown · 2022	Last known equity round: Seed · USD 27.5M · Apr 2022 (Fine Structure Ventures, EXOR, Helios Capital, Type One Ventures) No confirmed published valuation Confidence index: MediumMethod	Partial sources	Back
12	Pangea AerospaceSpain · Europe	Series A · USD 26M · Mar 2025Aerospike engines: 8 contracts, about EUR 120M pipeline · Mar 2025	Last known equity round: Series A · USD 26M · Mar 2025 (Hyperion Fund; Primo Space Fund, CDTI Innvierte); EUR 23M No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
13	HyPrSpaceFrance · Europe	Series A · USD 24.4M · Nov 2025Orbital Baguette 1 launch from Biscarrosse planned 2027 · 2026	Last known equity round: Series A · USD 24.4M · Nov 2025 (Red River West, Bpifrance; Expansion, NACO); EUR 21M No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
14	Perigee AerospaceSouth Korea · Asia	Series B bridge · USD 22.5M · 2022Key metrics not disclosed	Last known equity round: Series B bridge · USD 22.5M · 2022 No confirmed published valuation Confidence index: MediumMethod	Partial sources	Back
15	UnastellaSouth Korea · Asia	Series B · USD 22.2M · Jun 2026UNA EXPRESS-I suborbital launch from its own site, May 2025 · May 2025	Last known equity round: Series B · USD 22.2M · Jun 2026 (Altos Ventures; KDB, Strong Ventures, Hana Ventures, Woori Venture Partners); KRW 33.5bn No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
16	SkyroraUnited Kingdom · Europe	Strategic round · Nov 2025UK launch licence (Aug 2025); orbital launch now targeted about 2030 · Oct 2026	Last known equity round: Strategic round · Nov 2025 (Max Polyakov); amount undisclosed No confirmed published valuation Confidence index: LowMethod	Weak sources	Back
17	Innovative Space CarrierJapan · Asia	Funding round · USD 20.5M · Apr 2026Engine ignition tests; selected for Japan SBIR Phase 3 · Jan 2026	Last known equity round: Funding round · USD 20.5M · Apr 2026 (Incubate Fund, B Dash Ventures, Angel Bridge, XTech Ventures; JAL Engineering); JPY 3.2bn, equity/debt split undisclosed No confirmed published valuation Confidence index: LowMethod	Weak sources	Back
18	HyImpulseGermany · Europe	Series A · USD 17.5M · Oct 2025SR75 suborbital rocket flew May 2024; SL1 orbital targeted 2027 · Oct 2025	Last known equity round: Series A · USD 17.5M · Oct 2025 (Campus Founders Ventures; Helantic, Global Resilience Innovation Fund, MBG Baden-Württemberg); EUR 15M of equity in a EUR 45M package No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
19	EtherealXIndia · Asia	Series A · USD 20.5M · Feb 2026Fully reusable Razor Crest rocket; engine testing stage · Feb 2026	Last known equity round: Series A · USD 20.5M · Feb 2026 (BIG Capital; TDK Ventures, YourNest, Accel, Prosus); INR 183.4 crore Published valuation: about USD 80M (filings) (Feb 2026) Confidence index: HighMethod	Solid sources	Back
20	Moonshot SpaceIsrael · Middle East & North Africa	Seed · USD 11M · Dec 2025Key metrics not disclosed	Last known equity round: Seed · USD 11M · Dec 2025; plus a USD 1M Israel Innovation Authority grant, not counted No confirmed published valuation Confidence index: LowMethod	Weak sources	Back
21	Pythom SpaceSwitzerland · Europe	Strategic round · USD 10M · Nov 2025First space stage assembled with five engines · Apr 2025	Last known equity round: Strategic round · USD 10M · Nov 2025 (Saab) No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
22	AstroXJapan · Asia	Series A · USD 8.8M · Nov 2025Key metrics not disclosed	Last known equity round: Series A · USD 8.8M · Nov 2025 (Alpha Corporation; Daiwa Corporate Investment, Shizuoka Capital, Deepcore); JPY 1.36bn of equity; debt not counted No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
23	Polaris RaumflugzeugeGermany · Europe	Seed extension · USD 6.1M · Jun 2025About EUR 10M of customer contracts for its spaceplanes · Jun 2025	Last known equity round: Seed extension · USD 6.1M · Jun 2025 (Capnamic Ventures, Spacewalk VC; E2MC Ventures); EUR 5.3M No confirmed published valuation Confidence index: HighMethod	Solid sources	Back
24	Sidereus Space DynamicsItaly · Europe	Seed+ · USD 5.4M · Sep 2023Key metrics not disclosed	Last known equity round: Seed+ · USD 5.4M · Sep 2023 (Primo Space, CDP Venture Capital); EUR 5.1M No confirmed published valuation Confidence index: MediumMethod	Partial sources	Back
25	Canada Rocket CompanyCanada · North America	Seed · USD 4.5M · Jan 2026Selected for Canada's Launch the North programme · 2026	Last known equity round: Seed · USD 4.5M · Jan 2026 (BDC, Garage Capital, Panache Ventures, Ripple Ventures) No confirmed published valuation Confidence index: LowMethod	Weak sources	Back
26	Equatorial Space SystemsSingapore · Asia	Pre-Series A · USD 1.5M · Jul 2024First Southeast Asian commercial rocket prototype test launch · 2020	Last known equity round: Pre-Series A · USD 1.5M · Jul 2024 (Farquhar Venture Capital; Paspalis) No confirmed published valuation Confidence index: HighMethod	Solid sources	Back

Back · Declaring an intention does not mean this company is raising funds. · Terms

Corporate investor? Back the startups of your own segment

Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main activity in this segment (launch). Country shown is the country of main operations. Request a correction

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How to read this ranking

Rank

Companies are ranked by AI-estimated valuation, highest first. The market sets the value; our AI estimates it.

Estimate

An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.

Hundreds of k$
Millions $
Tens of M$
Hundreds of M$
Unicorn
Decacorn
Hectocorn

Confidence

High: recent, solid public information.
Medium: older or partial information.
Low: sparse or single-sourced information.

Full method →

Invest in launchers, together

Uback aggregates investment intentions from business angels, family offices, corporates and sector specialists worldwide. Every ranked company already has professional investors on its cap table, who have negotiated a shareholders’ agreement: you don’t start from a blank page.

Strength in numbers

Alone, a small ticket opens no doors. Together, Backers carry weight.

Declare an intention

On a company, whether or not it has agreed, or on this segment, worldwide, in a region or in a country, with a ticket range. Paid, to show you are serious; valid for life, and movable until a deal process opens.

Critical mass is reached

When the pool’s combined amount reaches its critical mass, a floor amount estimated by the AI, the pool is passed to the local partner, who presents this demand to the companies concerned.

The local partner structures

If the company’s expectations and the Backers’ converge, the partner builds a transaction and presents it directly to the Backers concerned.

Closing

Capital raise or sale of existing shares: small tickets are pooled in a common vehicle set up by the local partner. Each Backer decides whether to take part.

Uback does not advise, does not negotiate, collects nothing. Each transaction is run by the local partner of the company’s country, under the law that governs its shares.

Get notified when intentions open What happens after my declaration? Intention declarations open once the local partner signs · price per ticket band · valid for life · movable until a deal process opens

Challengers

A registered company raising funds that is not in the ranking will be able, for a fee, to appear in a separate list labelled “Challengers”, for a set period, with a memo available to verified Backers. The listing has no effect on the ranking. Not open yet.

Sponsored space · no Challenger listed yet

Radar · known eligible companies, not ranked

Sorted by date of last round, with no judgement and no AI call.

Opus Aerospace · France · EuropeFeb 2026 · USD 1.4M; EUR 1.2M, crowdfunding and private investorsBack
Astra Space · United States · North America2025; about USD 80M raised after the 2024 take-private, equity and debt split undisclosedBack
Phantom Space · United States · North AmericaMar 2024; amount undisclosedBack

Chinese companies · for reference, never ranked

Facts as published, dated. Uback does not rank or value Chinese companies and no intention can be declared on them.

Deep Blue Aerospace · ChinaNebula-1 first-stage static fire, Nov 2025; orbital debut pending (Nov 2025)Two rounds · USD 280M · Sep 2026
Galactic Energy · ChinaPallas-1 reached orbit on its debut, 1 Sep 2026 (Sep 2026)Series D · USD 336M · Sep 2025
iSpace · ChinaHyperbola-3 reusable rocket in preparation; IPO targeted 2027 (Aug 2026)Series E (first tranche) · USD 137.5M · Aug 2026
LandSpace · ChinaZhuque-3 reusable rocket reached orbit on its maiden flight (2025); STAR Market IPO under review (Jun 2026)
Orienspace · ChinaGravity-1: third successful flight, Jul 2026 (Jul 2026)Pre-Series C · Aug 2026
Space Pioneer · ChinaTianlong-3 maiden flight failed, Apr 2026 (Apr 2026)Series C+ · USD 207M · Jun 2024

Listed benchmarks

Not ranked: no intention is possible on a listed company.

Avio · ItalyEuronext Milan · AVIO · about USD 1.6bn (Sep 2026)
Virgin Galactic · United StatesNYSE · SPCE · USD 460M (Oct 2026)
Innospace · South KoreaKOSDAQ · 462350 · about USD 150M (Sep 2026)
SpaceX · United StatesNasdaq · SPCX · USD 2.2tn (Oct 2026)
Rocket Lab · United StatesNasdaq · RKLB · USD 43bn (Oct 2026)
Firefly Aerospace · United StatesNasdaq · FLY · USD 3.8bn (Oct 2026)

Sources and method for this segment

Calendar. Global segment rankings are published twice a year. Next edition: March 6, 2027.

Eligibility. At least $1M raised in equity, non-listed company, main activity in this segment (launch). A company appears in one segment only.

Sources. Company announcements, Bloomberg, Reuters, SpaceNews, Payload, European Spaceflight, The Next Web, TechCrunch, Satellite Today, Entrackr, The Bridge, Wowtale, company filings and market data for listed companies.

Method and rules, common to all rankings →